Summary
- It reported that the Ethereum network's total value locked (TVL) fell 24% in one month, marking the lowest level since July.
- It said that U.S. spot Ethereum ETFs experienced net outflows of $508 million, dampening investor sentiment.
- Ethereum fell 12.27% compared with a week ago, indicating high price volatility.
The Ethereum (ETH) network's total value locked (TVL) has fallen by nearly 24% in the past month.
According to DeFiLlama on the 9th, the Ethereum network's TVL was about $74 billion as of that day. Compared with one month ago, it decreased by about 24%. Cointelegraph said "(the $74 billion) is the lowest since July" and reported "Ethereum decentralized application (dApp) revenues last month also fell by 18% compared with one month earlier."
Institutional inflows also shrank. According to SosoValue, U.S. spot Ethereum exchange-traded funds (ETFs) recorded net outflows of $508 million this week (3~7). Cointelegraph said "weak demand for spot ETFs has dampened Ethereum investor sentiment" and "there was also almost no movement by companies to increase their Ethereum holdings."
Meanwhile, as of 11:07 a.m. that day, Ethereum was trading on CoinMarketCap at $3394.11, down 1.17% from the previous day. Compared with one week earlier, it was down 12.27%.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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